Short Interest in Cartesian Growth Corp III (NASDAQ:CGCT) Rises By 100.8%

Cartesian Growth Corp III (NASDAQ:CGCT) saw a significant growth in short interest during the month of May. As of May 15th, there was short interest totaling 22,812 shares, a growth of 100.8% from the April 30th total of 11,362 shares. Based on an average daily volume of 175,212 shares, the short-interest ratio is presently 0.1 days. Currently, 0.1% of the company’s stock are sold short.

Cartesian Growth Corp III Price Performance

CGCT traded down $0.46 on Tuesday, hitting $12.48. The company had a trading volume of 30,169 shares, compared to its average volume of 183,547. The company has a fifty day simple moving average of $10.49. Cartesian Growth Corp III has a 12-month low of $9.26 and a 12-month high of $15.30. The stock has a market cap of $430.56 million and a PE ratio of 52.00.

Cartesian Growth Corp III (NASDAQ:CGCT) last posted its earnings results on Friday, May 15th. The company reported $0.05 earnings per share (EPS) for the quarter. The company had revenue of $2.49 million during the quarter.

Institutional Investors Weigh In On Cartesian Growth Corp III

Institutional investors have recently added to or reduced their stakes in the business. UBS Group AG boosted its holdings in Cartesian Growth Corp III by 264.9% in the fourth quarter. UBS Group AG now owns 215,841 shares of the company’s stock worth $2,222,000 after acquiring an additional 156,697 shares in the last quarter. Readystate Asset Management LP acquired a new position in Cartesian Growth Corp III in the fourth quarter valued at approximately $257,000. Rivernorth Capital Management LLC lifted its holdings in Cartesian Growth Corp III by 23.1% in the fourth quarter. Rivernorth Capital Management LLC now owns 133,142 shares of the company’s stock valued at $1,371,000 after acquiring an additional 24,999 shares during the period. PenderFund Capital Management Ltd. purchased a new stake in shares of Cartesian Growth Corp III in the fourth quarter valued at approximately $234,000. Finally, Evercore Wealth Management LLC purchased a new stake in shares of Cartesian Growth Corp III in the fourth quarter valued at approximately $104,000.

About Cartesian Growth Corp III

Cartesian Growth Corp III (NASDAQ: CGCT) is a special purpose acquisition company (SPAC), commonly referred to as a blank-check company, that is listed on the Nasdaq stock exchange. As a SPAC, Cartesian Growth Corp III was formed to raise capital through an initial public offering with the objective of identifying, negotiating and completing one or more business combinations or acquisitions. The company itself does not operate an ongoing commercial business prior to completing a business combination.

The company’s principal activities center on sourcing potential acquisition targets, conducting due diligence, arranging transaction financing and completing a business combination that would result in an operating public company.